The Fraud Examiner
The Billion-Dollar Question: Where Do Corporate Fines and Penalties Go?
Research Editor, Association of Certified Fraud Examiners
Anti-fraud professionals’ efforts in detecting and exposing fraud across multiple industries often result in severe fines and penalties. While these might make national or global headlines, what is often left unanswered in those stories is who benefits from the well-deserved fines and penalties levied against major
The following is a mere sampling of corporate malefactors, their high-dollar punishments and the enforcers.
- 2016: The Volkswagen scandal involving secret software that the automaker installed in its diesel cars to cheat exhaust emissions tests garnered the corporation
a $14.7 billion fine by the DOJ, the Federal Trade Commission and the state of California.
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- 2017: The Takata Corporation, a Tokyo-based manufacturer of automobile airbags, was sentenced by the DOJ to pay
$1 billion in criminal penalties related to wire fraud and defective airbag inflators.